Cochlear Limited
(ASX:COH) has recorded a fall in EBIT 54% for the first half of Fiscal 2014, falling from $108.3 million in H1 2013 to $49.4 million for H1 this year.
Net profit fell similar a percentage between the periods, from $77.7 million to $36.8 million.
The company said in an announcement that regulatory approval was still outstanding on a number of new products, slowing their release while also depressing sales of existing products.
Despite the regulatory difficulties, new lines of product were released in Q2 and sales improved 30% over Q1.
